Jamie Dimon’s comments follow JPMorgan’s decision late last year to drop a case filed against Tesla in 2021, which had sought $162.2 million plus fees over a dispute regarding stock warrant transactions.

At current trends the charity Oxfam predicts up to five trillionaires are expected to emerge within the next decade.

A version of this article originally appeared in Quartz’s Need to Know: Davos newsletter. To get updates on the World Economic Forum delivered straight to your inbox all week, sign up here.

Welcome to CNBC’s live blog covering all the latest news, views and action on day 3 of the World Economic Forum in Davos, Switzerland.

meeting in Davos. Tesla and SpaceX chief Elon Musk, who works closely with US President Donald Trump, favours H-1B visas while allies in his Republican Party have splintered over the policy.

"We actually no longer call it EV. We call it EIV. 'I' stands for intelligent," Pan Jian, a cochair of CATL, told a WEF panel in Davos, Switzerland.

Jamie Dimon said that he and Elon Musk settled their differences. This seemingly concluded their row, sparked by a legal fight between JPMorgan and Tesla.

"Elon and I hugged it out," Dimon told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland. "He came to one of our conferences, [and] he and I had a nice, long chat. We settled some of our differences."

The U.S. posted a record trade deficit in good in 2024, spotlighting what is likely to be constant eye sore under the second administration of President Trump as it aims to encourage more production domestically.

In today’s news, shares have risen after yesterday’s positive inflation data, court approves controversial new mansion at $45 million Tamarama site, and how a culture war is tearing apart a private school.

Tesla Inc. disappointed investors on Thursday, reporting sales of 495,570 electric vehicles in the fourth quarter and of 1.789 million for all of 2024, falling slightly short of Wall Street ...

Silicon Valley loudly criticized President Donald Trump when he quit the climate accord in his first term. This time? Crickets.